You don't have to be a physicist to make money trading forex. You need only a simple, straightforward approach that identifies short-term trends and keeps you in for the ride. Here, we look at a basic strategy that combines two well-known and accessible indicators.
Not only are the forex majors among today's most liquid and widely traded markets, but historically they also have been excellent trending markets. Frequently, most trading profits booked by many of today's top trend-following firms are generated trading the forex markets.
While trend is always a function of time, the best trending markets exhibit strong directional movement across a multitude of time frames. The six major forex currency pairs include the dollar in relation to the pound sterling (USD/GBP), the euro (USD/EUR), the Japanese yen (USD/JPY), the Canadian dollar (USD/ CAD), the Australian dollar (USD/ AUD) and the Swiss franc (USD/CHF).
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